Skip to content

Maloofs come up with “backup plan” to help Seattle group that also will get rejected

May 12, 2013, 8:00 AM EST

Seattle SuperSonics v Denver Nuggets Getty Images

Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.

After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.

This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.

Then they worked out a “backup plan” with the Maloofs, reports Brian Windhorst of ESPN.

Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….

Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.

To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.

It’s an interesting plan… but it’s not going to work.

Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.

The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.

The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.

If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.

Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.

And what David Stern wants….

Latest Posts
  1. Report: Pistons looking into Norris Cole trade

    Jan 27, 2015, 11:33 PM EST

    Miami Heat v Detroit Pistons Getty Images

    Hornets also reportedly had interest in Heat point guard

  2. It’s official: Zach LaVine, Greek Freak Antetokounmpo headline All-Star Dunk Contest

    Jan 27, 2015, 7:23 PM EST

    Milwaukee Bucks v Los Angeles Clippers Getty Images

    The best news may be the return to the classic dunk contest format.

  3. LaMarcus Aldridge says he’s back for rest of season

    Jan 27, 2015, 6:50 PM EST

    LaMarcus Aldridge AP

    Barring any setbacks with hand injury

  4. Paul Pierce on why trash talk is down in league: NBA2K

    Jan 27, 2015, 5:15 PM EST

    NBA 2K15 promo

    My gaming experience suggests you talk a lot of trash to the guy next to you.

  5. Wisconsin Governor plans for $220 million in state bonds to help pay for new Milwaukee arena

    Jan 27, 2015, 3:30 PM EST

    Scott Walker Getty Images

    It essentially uses increased jock tax revenue to pay off the bonds.

  6. Iman Shumpert mocks his own failed crossover (VIDEO)

    Jan 27, 2015, 2:40 PM EST

    Oklahoma City Thunder v Cleveland Cavaliers Getty Images

    Shumpert dribbled it off his foot against the Thunder, then tweeted the clip.

  7. Lakers’ players trying to adjust to Byron Scott’s random rotations

    Jan 27, 2015, 1:55 PM EST

    Byron Scott AP

    Players like a routine, a rhythm to games, and the Lakers are chaos theory.

  8. Kobe Bryant uses Super Bowl analogy to describe how he feels about season-ending injury

    Jan 27, 2015, 12:30 PM EST

    Los Angeles Lakers v Houston Rockets Getty Images

    This is the third consecutive year Bryant has had his season prematurely ended due to injury.

  9. Nets coach Lionel Hollins calls idea he doesn’t like advanced stats ‘dumbest thing I’ve ever heard’

    Jan 27, 2015, 11:50 AM EST

    San Antonio Spurs v Memphis Grizzlies - Game Three Getty Images

    Hollins was reportedly not brought back in Memphis because of an aversion to the use of advanced statistics.

  10. UPDATE: Knicks, Langston Galloway agree to contract for this season and next

    Jan 27, 2015, 11:10 AM EST

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznptzmzwflzdg4ntbmzwflndvmowjizjg2oti2nmy3ztk5-e1422370631910

    New York doesn’t want to offer Galloway any guaranteed money for next season.

  11. Brian Shaw upset with officiating after not getting a call late in loss to Clippers

    Jan 27, 2015, 10:30 AM EST

    Brian Shaw AP

    Matt Barnes intentionally fouled Danilo Gallinari late, and Shaw believes free throws should have been awarded.

Featured video

Stephen Curry leads NBA MVP race mid-season
Top 10 NBA Player Searches
  1. K. Bryant (7417)
  2. H. Whiteside (6867)
  3. L. Aldridge (6238)
  4. R. Rubio (6236)
  5. N. Batum (6120)
  1. K. Martin (5950)
  2. J. Noah (5760)
  3. K. Walker (5712)
  4. C. Anthony (5561)
  5. D. Howard (5302)